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Assignment And Assumption Of Membership Interest
"I need an Assignment and Assumption of Membership Interest agreement for transferring my 25% stake in a technology startup to a venture capital firm, with specific provisions for staged payments and maintaining my board observer rights until March 2025."
1. Parties: Identifies the Assignor, Assignee, and the Company/Entity whose membership interest is being transferred
2. Background: Provides context about the existing membership interest and the intention to transfer
3. Definitions: Defines key terms used throughout the agreement
4. Assignment and Assumption: Core provision detailing the transfer of membership interest and assumption of related rights and obligations
5. Purchase Price and Payment: Specifies the consideration for the assignment and payment terms
6. Effective Date: Establishes when the assignment takes effect
7. Assignor's Representations and Warranties: Warranties regarding ownership, authority to transfer, and status of the interest being transferred
8. Assignee's Representations and Warranties: Warranties regarding authority to accept transfer and compliance with company requirements
9. Company Consent: Acknowledgment and consent of the company to the transfer
10. Further Assurances: Commitment to execute additional documents or take actions necessary to effect the transfer
11. Governing Law: Specifies New Zealand law as governing law
12. Execution: Signature blocks for all parties
1. Tax Matters: Include when specific tax allocations or obligations need to be addressed
2. Regulatory Approvals: Include when the transfer requires specific regulatory or governmental approvals
3. Non-Competition: Include when the assignor needs to be restricted from competing post-transfer
4. Confidentiality: Include when specific confidentiality obligations need to be imposed
5. Indemnification: Include when specific indemnification provisions are required beyond standard representations
6. Dispute Resolution: Include when specific dispute resolution mechanisms (mediation/arbitration) are preferred
7. Third Party Consents: Include when additional third party approvals are required
8. Continued Liability: Include when addressing ongoing liability of the assignor for pre-transfer obligations
1. Schedule 1 - Membership Interest Details: Detailed description of the membership interest being transferred
2. Schedule 2 - Purchase Price Calculation: Breakdown of consideration and payment terms if complex
3. Schedule 3 - Company Documents: Relevant company constitutional documents and existing agreements
4. Schedule 4 - Required Consents: List of required third-party or regulatory consents
5. Appendix A - Transfer Forms: Official forms required for recording the transfer
6. Appendix B - Company Resolution: Company resolution approving the transfer
7. Appendix C - Existing Obligations: List of existing obligations attached to the membership interest
Authors
Assigned Interest
Assignment Date
Assignor
Assignee
Business Day
Company
Completion
Completion Date
Consideration
Constitution
Effective Date
Encumbrance
Existing Operating Agreement
Governmental Authority
Liabilities
Members
Membership Interest
Operating Agreement
Party/Parties
Purchase Price
Related Rights
Representatives
Securities
Shareholders Agreement
Transaction Documents
Transfer
Working Day
Purchase Price
Payment Terms
Representations and Warranties
Conditions Precedent
Completion
Consent and Approval
Transfer Restrictions
Rights and Obligations
Indemnification
Confidentiality
Non-Competition
Further Assurances
Notices
Governing Law
Dispute Resolution
Tax Matters
Severability
Amendment
Entire Agreement
Force Majeure
Third Party Rights
Succession
Waiver
Costs and Expenses
Counterparts
Electronic Execution
Professional Services
Real Estate
Financial Services
Technology
Manufacturing
Retail
Construction
Agriculture
Healthcare
Mining
Energy
Hospitality
Transportation
Education
Legal
Corporate Governance
Executive Leadership
Finance
Compliance
Risk Management
Corporate Affairs
Business Development
Investment
Operations
Chief Executive Officer
Chief Financial Officer
Company Secretary
Legal Counsel
Corporate Lawyer
Business Development Manager
Investment Manager
Managing Director
Company Director
Corporate Governance Officer
Compliance Manager
Risk Manager
Private Equity Manager
Business Owner
Partnership Manager
Operations Director
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